By Sheri Kasprzak
Atlanta, March 24 - Mount Gibson Iron Ltd. said it will sell A$17 million in shares in a private placement.
The company plans to sell 20 million shares at A$0.85 each to sophisticated investors and institutional clients of Shaw Stockbroking.
The offering is expected to close April 1.
Based in Sydney, Australia, Mount Gibson is an iron exploration company. It plans to use the proceeds from the deal to advance its involvement in the Asia Iron pellet project in China.
| Issuer: | Mount Gibson Iron Ltd.
|
| Issue: | Stock
|
| Amount: | A$17 million
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| Shares: | 20 million
|
| Price: | C$0.85
|
| Warrants: | No
|
| Pricing date: | March 23
|
| Settlement date: | April 1
|
| Stock price: | A$0.91 at close March 23
|
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